St.modwen Properties Share Discussion Threads

[solomon] 15/5/2013 16:51

You're right, it could be just that. (£180K buy above the offer at the end of trading, so there's legs in the rise yet)

[broadwood] 15/5/2013 16:46

I see another one of my property type companies- QED - is up 7% today aswell. So maybe its just insti buying.

[solomon] 15/5/2013 16:40

A couple of days ago there were a few very early buys well above the offer in the next hour or so. I thought "who is stupid enough to buy just after 8 am when the spread is so wide". Then I thought a bit more ... but I got a headache.

[broadwood] 15/5/2013 16:37

Sol - Could be a delayed reaction to good housing figures but it doesn't look like that. Very strong finish.

[solomon] 15/5/2013 16:33

I think there is broadwood. I kinda hope it's not a buyout. I've used nearly all my CGT allowance for this year.

[broadwood] 15/5/2013 16:25

Something funny going on?

[broadwood] 15/5/2013 16:19

Flying again.

[solomon] 10/5/2013 11:06

This didn't take long to overcome the drop due to the placing.

[solomon] 21/3/2013 16:36

The chart trend over the last 13 months has been a great friend. My best performing holding.

[broadwood] 21/3/2013 15:59

Market -and BlackRock - both like.


St. Modwen Properties, the FTSE 250 regeneration specialist, has signed an agreement with Swansea University to deliver the first phase of a new Science and Innovation Campus.

The £450m campus will be located on St. Modwen's 65 acre Transit site, one of the holdings within a 2,500 acre portfolio acquired from BP in 2009, and which has been fully remediated.

About 4,000 direct jobs will be created during the construction phase, with a further 6,000 indirect jobs supported in the wider economy as a result.

The group also announced that it has completing the sale of income from the student accommodation to the M&G Secured Property Income Fund, advised by PRUPIM, for £32m.

Bill Oliver, the Chief Executive of St.Modwen said: "The new campus will serve as a fantastic catalyst for change in this part of South Wales and provide a huge boost to the local and national Welsh economies. Coupled with our ongoing regeneration of Coed Darcy, Baglan Bay and Glan Llyn at Newport, this project plays a major part in the transformational change that we are delivering in South Wales.

"Over the next few years, we look forward to working closely with the University on this important project, as well as engaging with the local community and key stakeholders

[broadwood] 20/3/2013 17:12

And BlackRock are adding!!

[tiger20] 20/3/2013 16:15

A slight hiccup recently on the share price but shortly will be heading upto £3 level-just signed following contract

St. Modwen Properties, the FTSE 250 regeneration specialist, has signed an agreement with Swansea University to deliver the first phase of a new Science and Innovation Campus.

The £450m campus will be located on St. Modwen's 65 acre Transit site, one of the holdings within a 2,500 acre portfolio acquired from BP in 2009, and which has been fully remediated

[broadwood] 06/3/2013 08:22

Ex div today

[mrbt] 04/3/2013 10:56

BBC



Daily Mail



Stories about Trentham Hall

[broadwood] 04/3/2013 10:46

Societe Generale Lloyds Banking Group PLC 04/03/2013
Reiterates
Buy Buy 0 52.00 61.00 53.25 9 2

[redartbmud] 26/2/2013 22:19

bw

Thanks.

red

[broadwood] 26/2/2013 22:14

red - I also remember when the company was in its embryo stage. Must admit, he wasn't always my favourite person building huge sheds on the side of the A38 from Lichfield to Burton for the likes of Argos etc..
But the company has gone way beyond those days and my philosophy was if you can't beat 'em, join'em.

Yep, I noticed we shared a few similar stocks. Best of luck.

[redartbmud] 26/2/2013 21:26

broad

No xxxxxx. I didn't know Stan personally, but first invested when it was a small company - share price about 25 - 30p at the time. I understood the business model - use the rent roll to cover operating costs, then any development profit was virtually pure profit. Ability to ride out difficult times with relative ease. Select "difficult" brownfield sites that others shunned. The company has built up an expertise in "cleansing" such sites.
As it has grown the model has had to operate on a larger scale and diverify.

I thought Stan was a legend, who also obviously enjoyed what he did - bisiness & pleasure.

Answer your question?

red

We seem to share a lot of companies within our portfolios.

r

[broadwood] 26/2/2013 17:14

red - are you from Burton on Trent?

Stan Clarke was a friend of a buddy of mine who likes a day at the races.. St Modwens ( as you may know) was the school he attended.

[redartbmud] 26/2/2013 17:11

jeffian

Like the specs, thanks.

I've been in SMP for many a long year, good times and bad. I have often recommended them to others as a company that has operated a very sound business model. The late Stan Clark was a shrewd operator who left a wonderful legacy.
The bond was a really good move as it provided a base for funding, reducing the uncertainty involved in rolling over bank loans.
I just hope that they can continue to manage the risk profile going forward, and that we see the business flourish.
It will be interesting to see what the scribblers in the city think in the comming weeks.

red

[jeffian] 26/2/2013 16:27

Well a 12.5% discount to the peak doesn't look too bad. It only puts them back to where they were at the beginning of the month.

[skinny] 26/2/2013 16:24

RESULTS OF PLACING

St. Modwen is pleased to announce the successful completion of the placing announced earlier today (the "Placing").

A total of 20,016,057 new ordinary shares of 10 pence each in St. Modwen (the "Placing Shares") have been placed by J.P. Morgan Securities plc (which conducts its UK investment banking business under the name J.P. Morgan Cazenove) ("JPMC") and Numis Securities Limited ("Numis") (together, the "Joint Bookrunners") at a price of 245 pence per Placing Share, with existing and new institutional investors, raising gross proceeds of approximately GBP49 million. The Placing Shares represent approximately 9.99% of the issued ordinary share capital of the Company prior to the Placing.

[jeffian] 26/2/2013 16:22

There you go, red!

8-)

"It is usually the case that property companies get their timing wrong. Often new builds are ready just in time for a downturn. In this case we are bumping along the bottom, and likely to do so for the next 2 3 years at least." Indeed, and on that argument now is exactly the time to be building rather than at the peak of some boom. SMP's schemes tend to be very long-term in nature - Longbridge, New Covent Garden, Elephant & Castle etc - so the new buildings they produce are indeed several years down the road in the timeframe you suggest. Others may wait until the recovery is in full swing before they develop, with their buildings coming online just as things run out of steam!

Anyway, my point was that, depending on the price they get it away at, a Placing is not necessarily as value-destructive as you think.

[redartbmud] 26/2/2013 12:32

jeffian

When you have finished with your rose tinted spectacles, perhaps you could pass them on.

I read all you say, but they have just got a bond away, now a big placing. It indicates that they are ramping up their plans at a time when there is still great uncertainty in the economy. It is usually the case that property companies get their timing wrong. Often new builds are ready just in time for a downturn. In this case we are bumping along the bottom, and likely to do so for the next 2 3 years at least. Unsurprisingly the market doesn't like what it sees. I'll bet they have talked to major shareholders, and I'll bet we see some of them trimming their investment in the coming months.

Look at Mucklow results for an example of where we are at present.

Just my opinion.

red

[jeffian] 26/2/2013 10:31

Placings and Rights issues always hit the share price in the short term but, on reflection, these should recover IMHO. It isn't as if they are raising equity to fill a hole in the Balance Sheet and dilute other shareholders; they are doing it to fund new development and add value. In the short term, the dilutive effect of the additional shares will be counterbalanced by the additional cash raised, and in the longer term they will have created an asset of greater value than cost, improving NAV. With the banking system still being highly unstable, it's not surprising that they don't want - or are unable - to finance speculative property development via bank loans and this provides a solution. Of course, we don't know the terms of the Placing yet and a big discount to market value would undoubtedly hit sentiment further, but if they get it away at a modest discount, I see no reason which this shouldn't be seen as a positive when the market has had time to think it through.